Numbers provided by the company show China Hydroelectric's consolidated revenue of UUS22.5 million is a 105% year-over-year increase, while the company's adjusted EBITDA increased 202% to $16.9 million.

"This is in stark contrast to our financial results for the first quarter of 2011 when precipitation in all four provinces where we have power projects fell well below historical average levels," Kuhns says.

Still, Kuhns says favorable tariff increases at some of China Hydroelectric's facilities should impact the company's future revenues. "The prices that the grids pay us for the electric power we generate have increased for six of our 26 power projects, which represent 21.5% of our total installed capacity," Kuhns says. "The positive effect of these six tariff increases, which range from 5.8% to 17.0%, equates to an increase in estimated net revenue and operating income in excess of $1 million annually at average precipitation levels.

"While we cannot predict when tariffs might be increased for our other power projects, or the magnitude thereof, we remain hopeful that we will see additional tariff increases."